Apr. 20, 2022
Another egregious proposal. Are we seriously wanting to give leeway to the reckless attacks of the short sellers? Have they not cellar boxed enough companies in the ground simply for wealth? Such is a shameful disgrace to our nation's integrity. These proposals were withdrawn for good reason. The issue with our markets is the abusive mechanisms of market makers and short sellers to attack companies. End PFOF. Stop routing retail orders through dark pools. Penalize beyond trivial fines. Spoofing is illegal but is clearly taking place. Where is enforcement? It is supposed to be a risky proposal to short the float of a company several times over. Now the elites want rules to accommodate their mistakes and SROs are trying to make it happen. The NSCC has quite the perverted view of how FTDs should be dealt with. No, I don't want this proposal. These are written in such opaque legalese, it pains me people can think like this. Write clearly. You don't care about retail's interests. You want a soft landing for the obscene risks short sellers have taken on. You think we're too dumb to figure out why you're 'trying to address' FTDs? This is a horrendous state to leave the markets in. You are trying to legitimize abusive short selling as a genuine investing strategy. - Jon Auberg